The US Dollar remains on the defensive this week with DXY trading into yearly trend support ahead of major event risk over the next week. The focus is on a key pivot zone around the yearly moving average with the broader December rally now at risk. These are the updated targets and invalidation levels that matter on the DXY weekly technical chart. {chart} Technical Outlook: In last month’s US Dollar Technical Forecast we noted that USD had, “turned from lateral resistance with an outside weekly reversal. The threat remains for a deeper pullback within the yearly uptrend. That said, we are on the lookout for an ... (full story)